October News and Rate Advisor

Welcome to the October issue of the News & Rate Advisor.

Current Discount Mortgage Rates for Oct 2018		Conventional1	High Ratio2
Variable Rate		2.65%	2.75%
1 Year		3.19%	3.19%
3 Year		3.34%	3.29%
5 Year		3.34%	3.29%
Prime Rate		3.70%	3.70%
Note: * Rates subject to change and OAC. (1) Conventional - Uninsured, (2) High Ratio - Insured

Canadian Qualifying Rate	Oct 2018
Rate	5.34%

Source: Bank of Canada

Current Bank of Canada Rate & Prime Rates	Oct 2018	Oct 2017	Oct 2016
Bank Rate	1.75%	1.25%	0.75%
Prime Rate	3.70%	3.20%	2.70%

Source: Bank of Canada

Nationwide Building Permits	Aug 2018	Aug 2017	Aug 2016
Residential	$5,310,449,000	$4,887,519,000	$4,516,206,000
Commercial	$3,801,749,000	$2,684,389,000	$2,856,502,000
Total	$9,112,198,000	$7,571,908,000	$7,372,708,000

Source: Stats Canada - preliminary figures

Average House Prices by Province	Aug 2018	Aug 2017	Aug 2016
National	$475,591	$472,247	$456,722
Yukon	$382,801	$311,149	$341,597
Northwest Territories	$417,548	$447,334	$388,119
British Columbia	$669,452	$678,152	$569,281
Alberta	$384,200	$392,359	$390,615
Saskatchewan	$281,088	$293,995	$298,001
Manitoba	$292,584	$287,794	$273,387
Ontario	$553,285	$518,613	$518,586
Quebec	$312,866	$298,158	$289,656
New Brunswick	$177,644	$161,160	$168,737
Prince Edward Island	$212,654	$195,270	$195,925
Nova Scotia	$228,070	$223,738	$209,989
Newfoundland	$261,107	$258,198	$265,521

Source: CREA - Most Recent Month Reported

Average House Prices by City	Aug 2018	Aug 2017	Aug 2016
Yellowknife	$417,548	$447,334	$388,119
Vancouver	$1,083,400	$1,029,700	$833,065
Victoria	$692,700	$620,700	$570,196
Edmonton	$330,000	$373,438	$369,956
Calgary	$426,800	$436,500	$456,663
Saskatoon	$293,900	$316,700	$349,716
Regina	$277,600	$313,000	$309,634
Toronto	$764,800	$755,400	$710,410
Hamilton-Burlington	$578,000	$554,507	$496,894
Ottawa-Carleton	$391,100	$365,200	$369,055
Quebec City	$283,054	$266,072	$279,780
Montreal	$345,600	$326,400	$358,935
Fredericton	$187,714	$166,135	$187,411
Saint John	$185,934	$172,803	$165,661
Halifax-Dartmouth	$295,413	$284,037	$281,977
Winnipeg	$302,100	$297,897	$278,718

Source: CREA - Most Recent Month Reported